Adyen: US customers enjoy bricks-and-mortar but want digital experience

Depending on whom you speak to, the US could be in the middle of a retail apocalypse or retail could be doing better than ever. On one hand, department stores and major chains are shutting down numerous retail locations or are filing for bankruptcy, while smaller brands and fashion companies are opening more retail locations and are performing well.
 
The way people shop has changed tremendously over the years due to online shopping, personalized experiences, data collection, and technological advancement in stores.


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Adyen, a technology company that aims to reinvent payments for the global economy, says that bricks-and-mortar retail will remain for its benefits, but it must catch up to today’s shoppers and their preferences.
 
The study, which was conducted by Morar Consulting, found that shoppers still enjoy shopping in bricks-and-mortar retailers, and 63% claim that they will shop more in store and online if a preferred shopping experience is implemented.
 
The study said that 34% of respondents want within the next 12 months to be able to “just walk out” with an item and be automatically charged, and over half of respondents (54%) want a loyalty program to be automatically tied to a credit card, even when shopping in store.
 
"There are things that people enjoy about shopping in stores, and brick and mortar retail isn't going anywhere," said Roelant Prins, Chief Commercial Officer at Adyen. "There are also things that people enjoy about shopping online though, and it's not as simple as just taking what works online and applying it to the physical world. It's about creating a unified experience, where the best parts of online are merged with the best parts of in-store to give shoppers exactly what they're looking for.”
 
According to the survey, more than half of customers expect mobile payments and VR/AR showrooming to be the norm in two years and five years, respectively.
 
"There is a group of consumers that have shown they regularly make the right bets on technology, and regardless of their age, generation, gender or any other standard demographic info, these are people that understand that technology can improve their lives," added Prins. "The good news for retailers is that these people actually like to shop more than most. If they can figure out how to best serve the Tastemakers, they can build a blueprint for how to evolve their business for the next generation of shoppers at large."
 
Traditional retail may not have universally implemented new technologies to enhance the shopping experience just yet, but customers still enjoy the current retail model.
 
The study found that 86% of respondents still prefer shopping in stores for exchanging or returning items and 60% like to head to stores to be able to see, touch, sample and try on products, and most customers don’t rely on sales associates either. Some 69% of respondents prefer to browse by themselves and over three quarters of customers want to buy items or reserve items before going into a store.
 
Reserving or buying items before heading into a store could speed up the shopping experience and lead to an increase in turnover. The survey found that 79% of shoppers have left a store due to a long line.

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